Move to fixed rate after 1 month of Tracker? (Co-op)

20vt-rs

I've just seen that Co-op are offering some cracking fixed rate deals, my currentl LTV is 75% so I could get a fee free 5-year fix at 3.39%. I have only just moved to an HSBC tracker at 2.79% plus BOE rate which is 3.29%. Would it be worthwhile moving to the co-op fix which gives me the peace of mind, there are no penalties with the HSBC to leave either.

I know there is no crystal ball on the BOE rate changes but thinking that this move could be a good idea, any comments or anything I should be considering?
Thanks...

Thrugelmir

20vt-rs wrote: »

there are no penalties with the HSBC to leave either.

Have you considered all the "other" costs of remortgaging?

latecomer

Co-op offer free valuation and basic legals for re-mortgaging so other than discharge and deed release fees what other costs are there?

20vt-rs

If and when the BOE rate increses, are they put up in 0.5% chunks or can it be anything? Doing my sums the extra 0.1% on the rate means between £6 and £7 per month extra. But if the BOE rate goes up 0.5% then that would mean more, I suppose it depends when that happens!

Thrugelmir

Rate movements historically have been made in multiples of .25% .

The BOE could move the rate 1% in one month if it felt the need to.